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Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech towns

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Current price of oil as of June 12, 2026
PoliticsIran

Trump says he’ll sign deal with Iran to reopen Hormuz Sunday

By
Arsalan Shahla
Arsalan Shahla
,
Maria Paula Mijares Torres
Maria Paula Mijares Torres
, and
Bloomberg
Bloomberg
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By
Arsalan Shahla
Arsalan Shahla
,
Maria Paula Mijares Torres
Maria Paula Mijares Torres
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
June 13, 2026, 2:06 PM ET
President Donald Trump prepares to sign an executive order during an event in the Oval Office of the White House on June 3, 2026.
President Donald Trump prepares to sign an executive order during an event in the Oval Office of the White House on June 3, 2026.Kevin Dietsch/Getty Images

President Donald Trump said an interim deal to reopen the Strait of Hormuz and end the conflict with Iran would be signed on Sunday, even as both sides have differed on the details.

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“The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL,” Trump said in a social media post on Saturday.

Pakistan, which has served as a mediator, is preparing for the electronic signing of the peace deal, “followed by technical level talks next week,” Pakistani Prime Minister Shehbaz Sharif, a key mediator in talks between Washington and Tehran, said earlier Saturday.

Trump also said Iran would not get any money in the deal, which was a key sticking point for Iran during negotiations mediated by Pakistan.

Trump said the US would “go in and get the Nuclear Dust,” his term for the Islamic Republic’s highly enriched uranium, when the other components of the deal were settled and would destroy it either in Iran or the US. 

Iranian Foreign Minister Abbas Araghchi echoed Trump’s expectations for a signing in a speech carried by state television on Friday, but a spokesman ruled out a signing on Sunday, according to state-run IRIB news.

Trump has vowed dozens of times that an agreement to end the war that began in February is near, only for none to materialize so far. The primary US objectives are to reopen the Strait of Hormuz to maritime traffic, and curb Iran’s nuclear program. Iran insists on retaining a degree of control over the waterway and gaining immediate access to its frozen funds, while negotiations over the Islamic Republic’s uranium enrichment would take place after the interim deal is signed.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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